The finance ministry has set up two committees of state finance ministers which would rework rate slabs, review GST exempt items and identify potential evasion sources. Four years after the rollout o...

Bonds are likely to rally on Tuesday after the government announced lower than expected borrowing for the second half of this fiscal. The Centre on Monday said it would borrow Rs 5.03 lakh crore (tri...

The government will borrow Rs 5.03 lakh crore in the second half of the current fiscal to fund the revenue gap for reviving the pandemic-hit economy, the finance ministry said on Monday. During the f...

Finance ministry officials have said increasing the average goods and services tax rate closer to the revenue neutral rate of about 15 per cent would help the states in getting more revenue and reduce...

 A New York court has paused Cairn Energy's pursuit of US assets of Air India for the recovery of USD 1.2 billion arbitral award, so as to allow the British firm to reach a settlement with th...

The Central Board of Direct Taxes (CBDT) has extended the safe harbour rules to assessment year 2021-22 but the rates will be kept unchanged. Safe harbour relates to circumstances where the tax autho...

The government has made Aadhaar authentication of taxpayers mandatory for claiming GST refund. The move is part of the government’s anti-evasion measures. The Central Board of Indirect Taxes an...

The finance ministry has decided to lift the expenditure restrictions on central ministries and departments slapped in June in the wake of the second Covid wave — a move that is expected to kick...

Garment prices for items below Rs 1,000 may go up 7 per cent if the government proceeds to redress the inverted duty structure in that segment. GST rates on yarn in the category of man-made fibre at ...

A State Bank research report has suggested  major changes in the tax treatment of interest rate on bank deposits as the real interest rate on deposits have turned negative amid the lure of return...